You could find further assistance with the following theoretical frameworks: Pestel Analysis and Porter´s Framework.

In using these tools you should be able to fully understand the position of a given firm within its branch and its overall environment.

With regards,

Joseph

Joseph Tshilomb Jonathan Thank you. As you stated, Pestel Analysis and Porter´s Framework are good to understand a firm's position and strategic positioning analysis. However, they are less capable in relation to 'Measurement' in SM. Thank you again anyways.

Dear Dereje,

I am not sure about that whether they are better than BSC, however, there are some alternative measurement models focusing on measurement of organizational performance such as Tableau de Bord, Systemic Scorecard, Dynamic Multidimensional Performance Measurement Model, Performance Pyramid etc.

Best regards,

Mehmet

Strategic Management is holistically (top-down & bottom-up) of the strategic/tactical/operational cascading of the processes efficiencies and results effectiveness measurement of strategic performance. BSC is a key implementation framework to align and implement strategies. Strategies come after VMGO definitions/measures. So if used complimentary as the development (through strategic management) and implementation (BSC), they are a very strong and powerful strategic management & measurement framework. The BSC is only as good as the weakness of your strategic management definitions of the VMGO & S. Basically, there is no such thing in management as good/better framework, as of of them are thematically similar. it is very dependent on your understanding and utilization in application and not adoption.

Good question.

Hopefully you'd find an adequate answer if and when you google and look through my master's dissertation, Percale_Power_1990.pdf.

I'm very much interested in any comments or feedback you'd care to make.

N.B.

Dear Mehmet, Teay and Uzi, thank you very much for your valuable answers.

Hi Dereje,

Strategic Management includes Strategy Planning & Execution. Value is only added during execution of the plan as we all know. Measuring your progress during your journey is of critical importance. The BSC, although 30 years old, is still a good framework for presenting your strategy.

In my PhD research I developed a conceptual model, called MERIL-DE, to help close the gap between strategy planning and execution. The MERIL-DE Model has nine vital strategy execution components, namely:

1) Leadership: Strong and coordinated leadership throughout the planning and execution process; leaders are the drivers in the strategy execution journey;

2) Good Strategic Plan: characterised by e.g. focus, logic, prioritisation, integration, balance, action orientation, SMART objectives linked to detailed initiatives and dynamic scorecards reviewed and updated on a quarterly basis;

3) Project Management: Strategic objectives are achieved through strategic initiatives (activities, projects and programmes), requiring special skills, methodologies, tools and techniques in project management for all projects and programmes;

4) Alignment: Alignment of the strategic plan with organisational/institutional elements such as staff, skills, structure, culture, processes, technology and funding;

5) Performance Management System (MERIL): An institutionalised cycle (at least quarterly) of performance management, including

Measure – measuring project/initiative performance together with the progress towards achieving strategic objectives (according to strategy PIs); also measuring/considering risks in the internal and external environment;

Evaluate – making sense from the measured performance information through dialogue – from analysis to synthesis;

Report – reporting on performance, its deviations from plan and its proposed improvement measures; communicating to all key stakeholders on all levels;

Improve – making the required agreed upon and approved corrections/improvements in the SP, project plans or any organisational element; and

Learn – learning all the time, getting wiser and wiser through broad engagement and dialogue; institutionalising learning and sharing lessons learnt/best practices.

6) Drive: Mostly internal motivation of management and staff to energise and sustain energy levels during the execution journey;

7) Engagement: The engagement of human resources at all levels through regular communication/ dialogue throughout the execution journey, starting with initial wide communication of the SP;

8) Risk Management: The identification, assessment and management of internal and external risks formalised and integrated in the MERIL process; and

9) Stakeholder Management: Good stakeholder collaboration, management and communication maintained and integrated in the execution journey.

You will see that Measure is the important first step of the quarterly performance management cycle, followed by Evaluate, Report, Improve & Learn. You can also refer to my Car Analogy in my article and book.

Your comments would be appreciated.

A hot shot performance auditor, set with the task of evaluating an organization for Board level scrutiny (focusing on future performance), with investment analysts watching, unions and the community on the side lines, could answer this question. Elements common to Balanced scorecard can also form part of the brief (or performance audit assignment).

Performance auditing literature refers mainly to public organizations and is known by other names in the private sector. Good examples are rare. Advantage is that that Boards and third parties acknowledge the creditability of independent auditors.

Kindly read Otley extended Framework of Performance and control system ..